Hedge fund Verition's senior credit traders from Morgan Stanley & BofA have vanished

If you're a credit trader in a bank, your job may seem precarious as electronic systems take over. But it may be safer than assuming a credit trading role at a hedge fund.

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We understand that two senior traders who had long careers in banks have left their seats in hedge fund Verition, one of them after only a few months. 

Rani Nazim, the former co-head of European credit trading at Morgan Stanley, joined Verition in London in November 2025. Multiple sources said she has since moved on. The FCA Register shows her leaving Verition's London office last week. Nazim spent 19 years at Morgan Stanley before leaving in 2023.

Paul Ashcroft, the former head of EMEA high yield trading at Bank of America, joined Verition in Dubai in 2023. He, too, is understood to have left again earlier this year.

Neither Verition nor the traders concerned responded to a request to comment. There are suggestions that Verition has been focusing its credit strategies around Chris Daniel, an ex-Millennium credit portfolio manager in South Carolina and Jake Crawford, a portfolio manager in London.

Crawford joined from RBC in 2019. Daniel, however, has never worked for a bank during his career.

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